Zhu Min Appointed Vice Governor of the Central Bank

The Chinese government has approved the appointment of Zhu Min, Bank of China Ltd. vice president, as a central bank vice governor, a party official with direct knowledge of the matter said on October 17.

After the breakout of the financial crisis, there was a strong voice for the reform to the International Monetary Fund (IMF). China hoped to play an important role in this matter. Zhu Min, 57, has rich experience at an international financial organization. Besides, he has been working in Bank of China for several years and got certain achievements in macro economy. Therefore he was thought to be a proper person to exert influence over IMF on behalf on China.

Zhu, 57, got bachelor degree from China Fudan University, master degree from Princeton University and doctor degree from John Hopkins University. He used to be a teacher in Fudan University then he moved to John Hopkins University as a researcher in its policy institution. He worked as a consultant for the World Bank for 6 years from 1990. From 1995 to 1996 he took the post of chief consultant of the United Nations “China 21st Century Agenda”.

From 1996 Zhu began to work in the Bank of China and took different posts on the bank. China hopes that Zhu eventually will compete for the post of deputy managing director for the IMF.

Chinas move to groom Zhu for that position comes as the country seeks more influence at the IMF, after the global financial crisis spawned debate about the reform of the international monetary system.